Group Chief Executive of Oando PLC, Wale Tinubu, has hailed the completion of the sale of Helios and Sojitz’s equity stake in Axxela to BlueCore, describing the transaction as a powerful example of long-term value creation in Nigeria.

In a post shared on his X page, Tinubu said it was personally gratifying to witness the conclusion of Axxela’s latest ownership transition, noting that the company’s journey reflects what disciplined capital deployment and patience can achieve in the Nigerian market.

He recalled that Oando’s involvement in the business began in 2001 with an initial investment of just ₦1 million. That modest entry, he explained, evolved into a highly successful enterprise, growing by more than 33,000 times to an enterprise value exceeding $300 million by 2017, when Oando exited the company. Tinubu added that the value of the business has almost doubled again following the most recent exit completed in 2026.

Tinubu expressed pride in all those who contributed to the growth of the company over the years, paying tribute to the pioneering Oando Gas & Power team, many of whom have since transitioned into gas exploration, production and processing. He also commended Helios for scaling the business with focus and discipline, while welcoming BlueCore as the new steward of Axxela’s next phase of growth.

According to Tinubu, the Axxela story underscores how strategic patience and disciplined execution can unlock deep and lasting value, even in challenging environments. He congratulated all parties involved in the transaction and expressed optimism about the year ahead, describing 2026 as one to watch.

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